DTN's Quick Takes

By DTN Analysts

Grains

OMAHA (DTN) -- As we near Wednesday's close, March corn is up 2 cents per bushel, January soybeans are up 1/4 cent, March KC wheat is up 17 cents, March Chicago wheat is up 13 1/4 cents and March Minneapolis wheat is up 12 1/4 cents. The Dow Jones Industrial Average is up 119.94 points and January crude oil is up $1.12 per barrel. The U.S. Dollar Index is up 0.010 and December gold is up $8.30 per ounce. While down from session highs, Kansas City HRW has led the grains higher for a second day. A number of countries are seen showing buying interest in the global wheat market this week, while World Grain reports that 1 mmt of production in eastern Australia may be downgraded due to excessive rainfall. Nervous noncommercial short-covering continues across the wheat markets. This session has seen March corn reach a fresh contract low, poised for its first higher close in five sessions.

Posted 10:31 -- March corn is up 3 1/2 cents per bushel, January soybeans are up 2 1/4 cents, March KC wheat is up 12 1/4 cents, March Chicago wheat is up 7 3/4 cents and March Minneapolis wheat is up 5 cents. The Dow Jones Industrial Average is up 17.27 points and January crude oil is up $0.60 per barrel. The U.S. Dollar Index is up 0.190 and December gold is up $1.60 per ounce. The Energy Information Administration reported ethanol plant production at 1.011 million barrels/day over the week ending Nov. 24, down 12,000 bpd from the previous week and down 7,000 bpd from one year ago, slightly below the range of pre-report estimates. Ethanol inventories fell by 270,000 barrels to 21.38 million barrels, lower than expected in pre-report estimates and down 1.5 million barrels from one year ago. Inventories of crude oil and products increased more than expected over the latest week, while crude oil traders continue to focus on the uncertainty ahead of Thursday's OPEC+ meeting.

Posted 08:34 -- March corn is down 1/2 cent per bushel, January soybeans are up 1/4 cent per bushel. March KC wheat is up 11 1/2 cents per bushel, March Chicago wheat is up 8 cents per bushel and March Minneapolis wheat is up 7 1/2 cents. The Dow Jones Industrial Average is up 68.45 points at 35,485.43 and the U.S. Dollar Index is up 0.060 at 102.81 and January crude oil is up $0.88 per barrel at $77.29. There were no new sales announced about rumored additional soybean sales to China, but beans and soymeal are still modestly higher, while corn is again close to challenging the low. Kansas City wheat continues to recover after Tuesday's key reversal from the new low.

Livestock

Posted 11:49 -- March corn is up 3 1/2 cents per bushel, January soybeans are up 2 1/4 cents, March KC wheat is up 12 1/4 cents, March Chicago wheat is up 7 3/4 cents and March Minneapolis wheat is up 5 cents. The Dow Jones Industrial Average is up 17.27 points and January crude oil is up $0.60 per barrel. The U.S. Dollar Index is up 0.190 and December gold is up $1.60 per ounce. The Energy Information Administration reported ethanol plant production at 1.011 million barrels/day over the week ending Nov. 24, down 12,000 bpd from the previous week and down 7,000 bpd from one year ago, slightly below the range of pre-report estimates. Ethanol inventories fell by 270,000 barrels to 21.38 million barrels, lower than expected in pre-report estimates and down 1.5 million barrels from one year ago. Inventories of crude oil and products increased more than expected over the latest week, while crude oil traders continue to focus on the uncertainty ahead of Thursday's OPEC+ meeting.

Posted 08:35 -- February live cattle are up $0.08 at $172.9, January feeder cattle are up $0.10 at $221.15, February lean hogs are up $0.55 at $69.575, March corn is down 3/4 cent per bushel and January soybean meal is down $0.20. The Dow Jones Industrial Average is up 37.43 points. Cattle futures rallied yesterday with triple-digit gains across the board, but the January feeder contracts up the limit. Wednesday limits have been expanded with live limits at 10 cents, and feeder limits now set at 12.25 cents. Some light live trade was reported in parts of the South Tuesday at $173 to mostly $175, roughly $2 lower than the prior week's weighted averages. So far, dressed deals in the North remain very elusive. The CME lean hog price for Nov. 27 was projected to be $71.66, off $0.67. The National Pork Carcass Cutout Tuesday was off $3.95 at $84.80.

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